Transport for LondonInterest and finance charges
Skip to navigationGroup interest payable, net of interest receivable, increased by £40m to £64m reflecting the £716m increase in finance lease creditors and a full year'sinterest on the first £200m bond issue in March 2005. Of the increase in the finance lease creditor, £569m reflects the recognition of assets completedunder the PPP contracts; the remaining £147mrelates to the Docklands Light Railway City AirportExtension, which is provided under a PFI contractand is recognised on the balance sheet as itbecame operational during the year.
The pensions interest cost, net of expected return on pensions assets, calculated in accordance with Financial Reporting Standard 17: Retirement Benefits, was down £6m to £8m, reflecting the change in value of the pension scheme assets and liabilities since 31 March 2005.
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